Streetbeat News

Acquisitions Mergers

AMDI

RYDE

Amphitrite Digital Inc (NASDAQ:AMDI) and Ryde Group Ltd (NYSE:RYDE) are set to go public the week of March 4, 2024, with their IPOs. AMDI's shares are priced between $3.50 and $4.50, offering 1,750,000 shares at $4.00 each. RYDE's shares are priced between $4.00 and $5.00, offering 3,000,000 shares at $4.50 each. Both companies have a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

March 03, 2024 | 5:13 pm

AAPL

BABA

This week in the Appleverse, significant events included a preference for older iPhone models among Android switchers, a revelation about Steve Jobs' initial flip phone design for the iPhone, massive discounts on the iPhone 15 in China, and suggestions for Apple's growth through acquisitions. Apple Inc. (AAPL) and Alibaba Group Holding Ltd. (BABA) were directly mentioned, with AAPL making headlines for various reasons and BABA's Tmall offering discounts on the iPhone 15.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 10:13 am

AAPL

GOOG

MSFT

This week in AI, Google faced criticism over its Gemini AI's inaccuracies, Apple shifted focus from its EV project to generative AI, and Elon Musk sued OpenAI and Microsoft. Google's CEO addressed the Gemini AI issues, Apple informed employees about the EV project's halt, and Musk's legal actions highlight concerns over AI's direction and Microsoft's practices. Additionally, c3.ai, Inc. reported strong Q4 results, indicating a growing AI revolution.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 4:50 am

BLK

JPM

Presidential candidate Robert Kennedy Jr. criticized big banks like BlackRock and JP Morgan for influencing Congress against Bitcoin, emphasizing the need for transactional freedom and protection against inflation for the middle class. He highlighted the importance of Bitcoin in ensuring such freedoms, contrasting with government-controlled digital currencies. Donald Trump also expressed a cautious acceptance of Bitcoin and opposed central bank digital currencies, citing control over money as a threat to freedom.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 8:29 pm

CVX

Chevron Corporation (NYSE:CVX) has paused biodiesel production at two facilities in the U.S. Midwest due to unfavorable market conditions, despite acquiring Renewable Energy Group in 2022 for $3.15 billion to boost renewable fuel output. Biodiesel prices have fallen, and renewable credits' value has decreased. Concurrently, Chevron unveiled a green hydrogen initiative in California's Central Valley, aiming to produce low carbon energy using solar power and non-potable water.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 7:06 pm

AVGO

DELL

META

NVDA

Michael Dell has joined the $100 billion club as Dell Technologies Inc. (NYSE:DELL) shares surged by 32% after strong Q4 earnings, driven by demand for AI-related equipment. Dell's net worth reached $104.3 billion, making him the 12th richest globally. The company's AI servers, like the H100 and MI300X, have been highlighted for their effectiveness. Dell's wealth also benefits from his stake in Broadcom Inc. (NASDAQ:AVGO), valued at over $31 billion, acquired after Broadcom's acquisition of VMWare in 2021.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 5:08 pm

DECK

PLTR

SMCI

WHR

ZION

In the latest S&P 500 quarterly rebalance, Super Micro Computer, Inc. (SMCI) and Deckers Outdoor Corp. (DECK) were added to the index, replacing Whirlpool Corporation (WHR) and Zions Bancorporation (ZION), respectively. Palantir Technologies, Inc. (PLTR) was notably excluded from the S&P 500, disappointing investors. Following the announcement, SMCI and DECK saw significant after-hours trading gains, while PLTR experienced a decline.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 4:39 pm

AAPL

FSR

GOEV

KARS

TSLA

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

AAPL

CVNA

DIS

GOOG

Benzinga's weekly review highlights market movements, with the Nasdaq and S&P 500 seeing gains, while the Dow slightly declined. Bitcoin surpassed $60,000, anticipating the halving event. Bullish views include Ackman's confidence in Alphabet for its AI and advertising, optimistic forecasts for Dogecoin and Shiba Inu, and predictions of Bitcoin reaching $200,000. Bearish perspectives involve Goldman Sachs removing Apple from its Conviction List, criticism of Disney by Gov. DeSantis, and a short report on Carvana questioning its valuation.

Portfolio Pulse from Michael Cohen

March 02, 2024 | 2:02 pm

FSR

NSANY

Nissan Motor Co Ltd is in advanced talks to invest over $400 million in Fisker Inc. to manufacture Fisker's Alaska electric pickup from 2026 and develop its own electric pickup using the same platform. This deal could significantly aid Fisker, which is facing financial challenges and recently announced a workforce reduction of 15%. Fisker reported a preliminary Q4 revenue increase but also a net loss, highlighting a challenging year with supplier delays affecting its Ocean SUV deliveries. Fisker's shares dropped 34% to $0.48.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 4:13 am